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The Complete Beginner’s Guide to Exports

EXPORTS

Goods and Services that are produced in one country and sold to buyers in another.  This trade can be done through shipping, e-mail, transmitted in private luggage on a plane. Traditionally, exports referred to the sale of tangible goods, including fuels, other commodities, parts and components and finished goods. The seller of the goods and services is referred to as the “Exporter.”

GLOBE
GLOBE

Objectives of Export Trade

Resources

  1. Optimum Utilization of Domestic Resources
  • Every country has some natural resources in plenty.
  • These resources can be utilized to increase the production and sell to those countries where these are in shortage.

2. Earning of Foreign Exchange

  • A country with surplus production may earn foreign exchange by selling goods and services to other countries.

3. Sale of Surplus Production

  • A country may produce more than it requires.

 4. Increase the National Income

  • Earning of foreign exchange due to exports add to the national income of a country.

5. Employment Opportunities

  • International business helps the business enterprises to focus on more production which requires more manpower that means more employment opportunities.

IMPORTS

Imports are the goods and services that are purchased from the rest of the world by a country’s residents, rather than buying domestically produced items.

TRADE DEFICIT

If a country imports more than it exports it runs a trade deficit.

TRADE SURPLUS

If a country imports less than it exports, that creates a trade surplus.

EXPORTS PROMOTION COUNCILS

The basic objective of Export Promotion Councils is to develop and promote the exports of the nation. Each Council is in charge of the promotion of a specific group of projects, products, and services.

There are many promotional councils based on category supported by government for exports.

APEDA : The Agricultural and Processed Food Products Export Development Authority 

The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in December, 1985.

SEPC  : – Services Export Promotion Council – SEPC is an Export Promotion Council set by Ministry of Commerce & Industry, Government of India. It is an apex trade body which facilitates service exporters of India. As an advisory body it actively contributes to the formulation of policies of Government of India and acts as an interface between the Services Industry and the Government.

MPEDA – The Marine Products Export Development Authority (MPEDA) was set up by an act of Parliament during 1972. The erstwhile Marine Products Export Promotion Council established by the Government of India in September 1961 was converged in to MPEDA on 24th August 1972. MPEDA is given the mandate to promote the marine products industry with special reference to exports from the country.

To know more about Export Promotion Councils check website.

12 Important Steps to follow for Export Business

1.  Select Name of the Company

2. Type of Organisation

a) Proprietor          b) Partnership           c) Limited Company         d) LLP

3. Current Account in the Name of the Company

4. Get I.E.Code

5. Export Promotion Councils (EPC) – Join as a member of EPC and avail services and benefits

6. Identify the Importers or Buyers.

7. How to fix Export Price

a) F.O.B.  – Free on Board                         b) C & F – Cost and Freight

c) C.I.F – Cost Insurance and Freight     d) Price to be quoted in US Dollar / Pound / Sterling /Euro / Yen

8. Date of Shipment / Date of Delivery

The buyer will send the quantity of goods,due date for sending the goods up to the port after finalising the price.

9. Mode of Payment

Advance Payment through Letter of Credit (LC)

3 Types of LC:-

a) Revocable LC & Irrevocable LC

b) Recourse LC  & Without Recourse LC

c) Confirmed LC & Unconfirmed LC

It should be Confirmed, Irrevocable, without Recourse LC

 10. Insurance

Get Small Exporters policy from (E.C.G.C)

This Policy will cover Buyer’s Risk, Country Risk, Water Risk.

11. Packing

12. Exports Documents

Commercial Invoice, Packing List, Bill of Lading, Certifications.

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CHAMBER OF COMMERCE

A chamber of commerce is a form of business network, for eg., a local organization of business whose goal is to further the interests of business. Business owners in towns and cities form these local societies to advocate on behalf of the business community. There are Different models in which Chambers work.

All Chambers will have Memberships, Services, Summits, Expo and many more we have to select the chambers based on out requirements.

Chamber Models

  • Community Chambers
  • City Chambers
  • State Chambers
  • National Chambers
  • International Chambers

SICCI – The Southern Indian Chamber of Commerce and Industry

The SICCI has served Indian business by protecting and promoting their interests at the Regional, National and International levels. On October 9th 1909 – Formation of the Southern India Chamber of Commerce & Industry at Ramkoti Buildings, Madras where the Indian Bank Ltd. was also located.

FICCI – Federation of Indian Chambers of Commerce and Industry

Established in 1927, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. A non-government, not-for-profit organisation, FICCI is the voice of India’s business and industry.

TCC – The Tamil Chamber of Commerce

The Chamber is 75 years old and celebrated its Platinum Jubilee recently. Honourable Vice President of India Thiru M.Venkaiah Naidu was the Chief Guest and inaugurated the Platinum Jubilee celebration and distributed the TCC & Chozha Naachiar Foundation EXIM Awards to the top Exporters, Importers, Ports, Airlines, CFS, CHAs. We look back with pride and satisfaction in the past 75 years of our platinum period.

MCCI – Madras Chamber of Commerce and Industry

Eighteen businessmen of Madras met at the office of Binny & Co. on the 29th September 1836 and unanimously resolved “that an Association be formed in Madras as Madras Chamber of Commerce”. These founding members with John Alves Arbuthnot as the Chairman made up the first Committee of the Chamber.

Andhra Chamber of Commerce

Andhra Chamber which made its humble beginning on August 17, 1928 with 35 Members has today well over 1700 Members – Individuals, Proprietary and Partnership Concerns, Public and Private Limited Companies and Life Members and around 55 Affiliated Chambers of Commerce and Industry and Trade Associations.

blockchain

10 Reasons Why You Should Invest In Blockchain.

BLOCK CHAIN

A Blockchain is a distributed, decentralized, public ledger. It seems complicated, but its core concept is really quite simple. Collects information together in groups, also known as blocks, that hold sets of information. It is a type of database. A database is a collection of information that is stored electronically on a computer system. It is not stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt.

Can we trust Blockchain ?

Blockchain technology accounts for the issues of security and trust in several ways. Each node has a full record of the data that has been stored on the blockchain since its inception. No one node within the network can alter information held within it.

Is Blockchain Secure?

After a block has been added to the end of the blockchain, it is very difficult to go back and alter the contents of the block. That’s because each block contains its own hash, along with the hash of the block before it. Hash codes are created by a math function that turns digital information into a string of numbers and letters. If that information is edited in any way, the hash code changes as well.

What is Hash Code ?

  • In simple terms, hash code means taking an input string of any length and giving out an output of a fixed length. The fixed-length output is called an equivalent hash function.
Block Chain cycle

Advantages of Blockchain

1)  Decentralization

Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers.

2) Secure Transactions

Once a transaction is recorded, its authenticity must be verified by the blockchain network. Thousands or even millions of computers on the blockchain rush to confirm that the details of the purchase are correct. After a computer has validated the transaction, it is added to the blockchain in the form of a block.

3) Accuracy of the Chain

Transactions on the blockchain network are approved by a network of thousands or millions of computers. This removes almost all human involvement in the verification process, resulting in less human error and a more accurate record of information.

4) Private Transactions

Many blockchain networks operate as public databases, meaning that anyone with an internet connection can view a list of the network’s transaction history. Although users can access details about transactions, they cannot access identifying information about the users making those transactions.

block chain technology

Photo source : 101 Blockchains

Smart Contract

  •  A smart contract is a computer code that can be built into the blockchain to facilitate, verify, or negotiate a contract agreement.
  • A key feature of smart contracts is that they do not need a trusted third party.

BIG INDUSTRIES BLOCK CHAIN COULD TRANSFORM

  • BANKING
  • MESSAGING APPS
  • VOTING
  • RIDE SHARING
  • INTERNET ADVERTISING
  • CRYPTO EXCHANGES
  • EDUCATION AND ACADEMICS
  • CLOUD STORAGE
  • STOCK TRADING
  • HEALTHCARE
  • SUPPLY CHAIN MANAGEMENT
  • GOVERNMENT AND PUBLIC RECORDS
  • CHARITY
  • CROWD FUNDING
  • ACCOUNTING
  • HOSPITALITY
  • WASTE MANAGEMENT
  • AGRICULTURE
  • AIR TRAVEL
  • VIDEO STREAMING
  • PUBLIC ASSISTANCE
  • PHOTOGRAPHY
  • PUBLISHING
  • LIBRARIES
  • SPORTS MANAGEMENT
Block chain using states in India

To know more about Technology articles check our Blog.

digital-marketing

What is Digital Marketing?

Any form of marketing products or services that involves electronic devices is Digital marketing.   It is also key to ensure that at the end of the day each marketing outlet leads directly to your company website.

Digital Marketing : Simple Step-by-Step Guide

Digital Marketing continues to be one of the most effective ways to reach online customers and followers. It moves beyond e-mail, social media and search engine marketing. Following a digital marketing strategy is key to helping  small and large businesses   grow fast.

How to Do Digital Marketing ?

  • Define your Goals.
  • Establish a budget for each digital channel
  • Conduct keyword research.
  • Identify your target audience.
  • Strike a good balance between paid and free digital strategies.
Digital Marketing

Does it work for all businesses?

Digital marketing can work for any business in any industry. Regardless of what your company sells. Digital advertising is the practice of creating greater brand recognition on digital platforms.

The ability to reach a global marketplace.

It helps to track and measure the reach for your product / service.

It helps your business to get engaged with the prospective customers.

The best digital marketers have a clear picture of how each digital marketing campaign supports their goals.

What Are the Benefits of Digital Marketing?

Having a strong digital presence will help you in multiple ways:

  •  Shorten the buyer’s journey by presenting the right products with offers at the right time and at the needed time.
  • Help you convert new buyers into  fan followers who buy more (and more often)
  • It will kickstart word-of-mouth and social sharing all the benefits that come with them.
  • It will make it easier to create awareness and engagement both before and after the sale.
digital marketing
digital marketing

Digital Marketing Assets

  • Your website
  •  Images (infographics, product shots, company photos, etc)
  •  Video content (video ads, product demos, etc)
  •  Social media pages
  •  Written content (blog posts, eBooks, product descriptions, testimonials, etc)
  •  Branded assets (logos, icons, acronyms, etc) Personal Branding
  •  Online products or tools for automation  (Marketing tools for Email marketing, Webinar, SMS, interactive content, etc)
  •  Reviews
  • Digital Marketing Course will play a major role.

B2B Digital Marketing

If your company or service is business-to-business (B2B), your digital marketing efforts are likely to be centered around online lead generation, with the end goal being for someone to speak to a salesperson.

B2C Digital Marketing

If your company or service is business-to-consumer (B2C), depending on the price point of your products, it’s likely that the goal of your digital marketing efforts is to attract people to your website and they become customers without ever need to speak to a salesperson.

Components and  types  of Digital Online Marketing are:

  1. Search Engine Optimization (SEO)
  2. Search Engine Marketing (SEM)
  3. Content Marketing
  4. Social Media Marketing (SMM)
  5. Affiliate Marketing
  6. Email Marketing
  7. Native Advertising
  8. Digital Marketing Automation

SEO – Search engine optimization It  is the practice of increasing the quantity and quality of traffic to your website through organic search engine results.

What goes into SEO ?

 Earning traffic through unpaid or free listings

  • Quality of traffic.    
  • Quantity of traffic.  
  • Organic results.
Image Source : Pixabay

7 steps to successful SEO:

  1. Crawl accessibility so engines can read your website
  2. Keyword optimized to attract searchers & engines
  3. Title, URL, & description to draw high CTR in the rankings
  4. Compelling content that answers the searcher’s query
  5. Snippet/schema markup to stand out in SERPs
  6. Share-worthy content that earns links, citations, and amplification
  7. Great user experience including a fast load speed and compelling UX

SEM – Search Engine Marketing

Search engine marketing is the practice of marketing a business using paid advertisements that appear on search engine results pages (or SERPs). It is one of the most effective ways to grow your business.

There are three main types of search engine marketing (SEM)

  1. Pay-Per-Click (PPC) 2. Local and 3. Organic SEO

SEM Platforms

An SEM platform is a search engine where a brand can place search ads that are displayed when users perform a search.

Google Ads  and Bing Ads and most commonly used SEM Platforms.

Types of SEM Keywords

  • Broad match keywords
  • Phrase match keywords
  • Exact match keywords
  • Negative keywords

SEM Targeting can be based on below :

Location targeting | Demographic targeting | Device targeting  | Ad schedule targeting 

CONTENT MARKETING

Content marketing is a marketing technique of creating and distributing relevant , valuable and consistent content to attract customers.Your customers, leads, and audience members want valuable content from your business.

Benefits of Content Marketing

More traffic | Cheaper conversions | Faster sales | Reduced marketing and sales overhead.

Higher search engine rankings | Measurable, actionable results | Stronger lead generation and qualification.

Types of Content Marketing

  1. Social Media Content Marketing

2. Blog Content Marketing

3. Video Content Marketing

4. Infographic Content Marketing

5. Paid Ad Content Marketing

6. Podcast Content Marketing

Want to Know about others thinking on Content Marketing :

SMM – SOCIAL MEDIA MARKETING

Social media marketing is the use of social media platforms to connect and learn more about  your audience to build your brand, increase sales and drive traffic to your website.

Facebook is dominating in social media platforms worldwide. Other popular channels are Whatsapp, Wechat, Instagram, Twitter, LinkedIn, Pinterest and YouTube.

TYPES OF SOCIAL MEDIA MARKETING

Social networks—Connect with people Eg. FB, Twitter, LinkedIn

Media sharing networks—Share photos, videos, and other media – Eg. Instagram,Snapchat, Youtube.

Bookmarking and content curation networks—Discover, save, and share new content – Eg. Pinterest, Flipboard

Consumer Review Networks—Find and review businesses for the websites – Eg. Zomato, TripAdvisor

Blogging and publishing networks—Publish content online sites – Eg. WordPress, Medium, Tumblr

Discussion forums or networks —Share news and ideas so that others can benefit out of it – Eg. reddit,Quora, Digg.

Interest-based networks—Share interests and hobbies to the world – Eg. Goodreads, Houzz

Sharing economy networks—Trade goods and services.

Anonymous social networks—Communicate anonymously.

Social shopping networks—Shop online.

AFFILIATE MARKETING

What is Affiliate Marketing ?

Affiliate marketing is the process by which an affiliate earns a commission for marketing another company’s products or person’s.

It is based on revenue sharing. If you have a product and want to sell more, you can offer promoters a financial incentive through an affiliate program.  It is a popular tactic to drive sales and generate significant online revenue. Affiliate marketing is low risk. Since there’s no cost to join affiliate programs, you can start making money with an established affiliate product or service without any upfront investment.An easy way to find affiliate programs is to visit an affiliate marketplace or platform.

some of the most popular affiliate websites

EMAIL MARKETING

An effective email marketing strategy converts prospects into customers, and turn first time buyers into recurring customers.

When you want to communicate something to sell your stuff or about your brand email marketing is one of the most cost-effective ways to do so.

1. Create an email marketing plan.

2. Design your emails.

3. Test your emails.

4. Measure your performance.

5. Marketing automation.

Native advertising

Native advertising

is a form of paid media where the ad experience follows the natural form and function of the user experience in which it is placed.

Types Of Native Ad Integrations

In-Feed Native Ads

Search & Promoted Listings

Content Recommendation Widgets

Custom Content Units

DIGITAL MARKETING AUTOMATION

Marketing automation is all about using software to automate marketing activities.This will nurture the  sales leads by sending  personalized marketing messages to consumers  and content and in the process. This will  save marketers’ time and effort.

Offline marketing

  1. Electronic billboards
  2. Radio marketing
  3. TV marketing
  4. Phone marketing
  5. Text Message Marketing

Finding the Right Digital Marketing Agency to Work With

The rate at which new companies are entering into the market makes it difficult to choose the agency which is right for you. These companies offer a wide range of services and they differ from one to the other. 

The following tips will help you choose the right digital agency for your business.

  • Web design and development
  • Online advertisement
  • Search engine optimization and marketing
  • Online reputation management
  • Mobile marketing
  • Social media marketing
  • E-mail marketing

Want to know the Industry People think about Digital Marketing

To drive traffic to website.